3 ms·

The $7,500 at least is pretty legit, since in 2024 the IRS will let you get the discount at point of sale. https://www.nerdwallet.com/article/taxes/ev-tax-cred

• JumpCrisscross 3y ago
  > $7,500 at least is pretty legit You can't claim it if you make more than "$300,000 for a household, $150,000 for an individual or $225,000 for a head of household" [1]. That describes a decent fraction of the Cybertruck's target market. [1] https://www.npr.org/2023/01/07/1147209505/electric-car-tax-credit-climate-bill-tesla-volkswagen-ev https://www.npr.org/2023/01/07/1147209505/electric-car-tax-c...
  • DennisP 3y ago
    Yes but the new method transfers the tax credit to the dealer, who then gives you a discount off the purchase price. Seems possible that the purchaser income limit wouldn't apply when it's the dealer taking the credit. All the articles I've seen say we're still waiting for complete IRS guidance though.
    • JumpCrisscross 3y ago
      > possible that the purchaser income limit wouldn't apply when it's the dealer taking the credit The credit changes when you get the cash, not its eligibility [1]. If the dealer mistakenly gives you the credit, it will be added back--with interest and penalties--when you file. (The dealer reports it, so if someone forgets to include it in their filing it will accrue penalties and interest until the IRS gets around to collecting.) [1] https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after https://www.irs.gov/credits-deductions/credits-for-new-clean...